America’s Cup bid gets unanimous backing

In the end, San Francisco’s bid to host the next America’s Cup was unanimous.

Now the decision is in race organizers’ hands.

The city is united. But race organizers are the ones who decide.

The Board of Supervisors voted 11-0 today to approve a bid put forward by Mayor Gavin Newsom for hosting sailing’s premier regatta. It was revised substantially in recent months to minimize the city’s costs.

“This is truly, I believe, not just the best bid for the city, but the best bid internationally for the America’s Cup,” board President David Chiu said before the vote.

Even Supervisor Chris Daly, who denounced an early version of the deal as a giveaway to one of the world’s richest men — Oracle CEO Larry Ellison — moved into the yes column after analyses showed the cup would be a long-term money maker for the city treasury.

“I am happy to come aboard,” Daly said.

San Francisco’s predictable winds and a stunning backdrop made it the clear front-runner to host the races after Ellison’s BMW Oracle Racing team, sponsored by San Francisco’s Golden Gate Yacht Club, won the Cup in February off the coast of Valencia, Spain.

The victorious syndicate selects the venue for the next Cup, which is set for 2013. They have committed to challengers to announce the host city by Dec. 31.

But a team and yacht club official expressed disapproval of the city’s proposed deal last week, and it’s unclear if the current bid will pass muster.

The deal calls for the city to provide race organizers long-term development rights to several waterfront properties in exchange for up to $80 million in upgrades to decaying piers and the right to host races projected to funnel $1.2 billion or more into the local economy and generate more than 8,000 jobs.

Some modifications made to the deal approved today provided deal sweeteners for race organizers, but port staff maintain the changes don’t materially increase the city’s obligations.

Stephen Barclay, a team and yacht club official, said race organizers were pleased with the resounding yes but “will now closely review the agreement changes.”

“We’ve seen good progress,” Barclay said in a statement after the vote,”so now we will study the details.”